Meb Faber Research – Stock Market and Investing Blog

The first version of my paper had a lot more statistics in it. (And a lot less readers. Something about talking about the third and fourth moments of a distribution just doesn't get people too excited. Mark Shore has a great paper here - Skewing Your Diversification.) The other day I posted about how the...

Harvard Hires Wellesley"In her most recent year at Wellesley, the $1.7 billion endowment posted a 22. 7 percent return through June 30, 2007. That figure was higher than the 21.3 percent average return for endowments with assets over $1 billion as measured by the National Association of College and University Business Officers. For that same period, Harvard posted a...

I should snicker, to sneeze, to smile, to stoop and kiss a grasshopper, and slobber in a coal bucket and see a son of a sea terrapin stick his head through the barbed wire fence backwards and cut off his tail in the slop barrel.Did the above not make any sense? How about this one:One a zog, two...

I posted awhile back on the attractiveness of gold stocks using a very simple indicator. The Hussman model looks like it is flashing green as well (more here):Not surprisingly, the combination of all of these is rare but extremely powerful. In the rare instances when 1) The rate of inflation has been higher than 6 months earlier, 2)...

I like the idea of aggregators, and considered building one with Bloggerator. The problem with the ones like RealClear Markets is that they are 1) poorly designed 2) have too much information/links 3) not edited with useful value added information.A much better model is any of the below sites:Abnormal ReturnsKottkeInstapunditValue Investing News (which actually shares revenue with the...

I think it would be interesting to see a list of traders that have lost the most money in their lifetime. This fellow would certainly make the list.When thinking about people who blow up from too much leverage, I am reminded of this great quote. I mean, have you ever heard anyone say in the morning, man...

Sign up for the alphaCLONE private beta here.

I promise I will not use a mulligan when I launch any funds (SSRN Paper here). Abstract: This paper provides the first systematic analysis of performance patterns for emerging managers in the hedge fund industry. Emerging managers have particularly strong financial incentives to create investment performance and, because of their size, may be more nimble...

With the recent Bear Stearns news I can't stop thinking about the film "Better Off Dead" starring John Cusack as Lane Meyer..."I want my two dollars!" . . .----BlackRock plans a listed fund of hedge funds! Hooray! Oh, wait, it's in London. Nevermind.----I (re)read Inside the House of Money on the plane last night, and the interview with...

I believe avoiding loss is the most important consideration in this business. But don't take my word for it - below are a few of my favorite quotes on investing (& losing), by some of the top investors in the world. “The first rule is not to lose. The second rule is not to forget the...